Direct Charging Explained
Direct Charging became effective on 3 March 2009 and established a system whereby ATM owners now charge cardholders directly when using 'foreign' cards (i.e. cards not issued by the ATM owner or part of a bilateral agreement). Previously, ATM owners would charge whoever issued the card; which came back to the cardholder in the form of fees charged by their financial institution. This reform was expected to increase competition and transparency in the Australian payment system.
Queenslanders Credit Union is partnered with the rediATM network (formerly known as Rediteller), which is one of Australia’s largest ATM networks. This partnership means Queenslanders Credit Union members have access to over 3,400 rediATMs nation-wide! Located in convenient locations – the bright red boxes are hard to miss.
So we bet you're wondering what this means for you. We'll start by saying that if you're a Queenslanders member and use a rediATM, you won't be charged a Direct Charge fee by the owner of the machine. Queenslanders Credit Union transaction fees may still apply though, depending on what type of account you hold with us.
Direct Charge Fees are charged by the owner of the ATM and vary from $2 to $4. These are charged when the card being used is 'foreign' to the ATM. Because Queenslanders Credit Union and rediATM are partners, Queenslanders members won't be charged this fee when using a rediATM.
Transaction Fees on the other hand are charged by us. Here at Queenslanders we are constantly working to improve our products and keep our fees low, but these fees are a way for us to cover the costs of providing our financial services. Keep in mind these transaction fees may apply for a transaction of any nature including EFTPOS and branch withdrawals. One way we try to help members out with these fees is through loyalty rebates, and we've included some handy tips below to reduce your fees. For full details on our Fees, Charges and Transaction limits (and loyalty rebates) click here.
Tips to reduce your transaction fees - Are you aged between 18 and 30? Ask our friendly team about the new LiveFree account today and start saving!
- Open a Queenslanders Basic Account and enjoy 8 free transactions every month!
- Upgrade your Redicard to a Visa Debit card and enjoy fee-free transactions when you select “credit” at point-of-sale^.
- Use Internet or Phone Banking for balance enquiries.
- When making an EFTPOS purchase, ask if the retailer offers 'cash out'. By doing this you can reduce the number of transactions you'll need to make.
- Consider linking all of your accounts under one membership with Queenslanders. This will increase your overall balance and therefore eligibility for our loyalty rebates.
- Consider transferring any loans or investments held with other financial institutions to Queenslanders. Not only will you benefit from our great range of lending and investment products but this will also increase your eligibility for loyalty rebates on transaction fees.
- Speak to one of our Service Consultants about taking advantage of our loyalty rebates. Our Consultants are really helpful and they know heaps! Call one today on 1800 753 377.
^ For Australian point of sale transactions only. Note that some retailers do not allow the selection of credit on a debit card in which case a transaction fee may still apply. Please refer to our Fees & Charges brochure for details. Members who choose not to use a rediATM will be notified of the applicable ATM charges at the point of transaction. If you choose to proceed with the transaction, remember that a Queenslanders transaction fee may apply in addition to the Direct Charge Fee stated on the ATM screen. But don't worry, when this notification appears on the ATM screen, you can cancel the transaction and incur no charge. For these moments; download the rediATM iPhone App and find the nearest rediATM to avoid the direct charge fee.